On the radio a Councillor said reserves. But cash management is ultimately up to Council. In the end, it doesn't matter whether you're paying interest or not receiving interest payments, they're just two sides of the same coin. Spending is spending. Spending always has opportunity costs. The structure of the spending matters little beyond have we been taxed already for it, or will we be taxed into the future given administration has said it is within the current budget constraint, which they call 'financial capacity'.Loan repayment, not a lease.
Question, does the city already have the extra $316 million in reserves to cover CSEC portion or are they borrowing to cover that portion? If they are borrowing, what interest rate would they get?